Iron Mountain Raises Outlook, Boosts Dividend 15%
The company reported 13.5% third-quarter revenue growth and expanded its data center leasing as demand for capacity continues.
Updated on Nov. 7, 2026 in Data Centers
Iron Mountain raised its 2026 full-year revenue forecast to $7.95 billion to $8.02 billion and increased its quarterly dividend by 15%. Third-quarter revenue rose 13.5% year over year to $1.991 billion, with data center revenue up 34% to $274 million.
Why it matters
The raised forecast and higher dividend reflect growing demand for data center capacity alongside the company's core records-storage business. Signing 102 megawatts of new data center leases in the quarter signals continued expansion of that segment for the U.S.-based operator.
Iron Mountain signed 102 megawatts of new data center leases in the third quarter and 137 megawatts through the first nine months of 2026. Adjusted funds from operations per share rose 15.9% to $1.53 from $1.32, while the filing does not detail the power or facility specifications behind the new leases.
The players
Iron Mountain
Iron Mountain is a Boston-based company that provides records storage, information management, and data center services to customers worldwide.
The details
Iron Mountain, which serves more than 240,000 customers across 61 countries, reported its results for the quarter ended Sept. 30, 2026. The board also declared a fourth-quarter dividend of $0.993 per share, up from $0.864.
Timeline
Sept. 30, 2026: Third-quarter period ended and revenue was reported.
Dec. 15, 2026: Record date for the 15% dividend increase.
Jan. 6, 2027: Payment date for the 15% dividend increase.
Market Landscape
Iron Mountain's data center growth places it among real estate operators expanding leased capacity to meet hyperscale and enterprise demand. Its combined records-storage and data center model distinguishes it from pure-play colocation providers competing for the same leases.
Iron Mountain's raised dividend and expanding data center footprint may affect shareholders receiving the $0.993 quarterly payout. For most users, the company's expansion of storage and data center capacity operates behind the scenes of cloud and records services.
The takeaway
Growth in data center revenue shows that leased capacity remains a major driver for infrastructure-focused companies. Investors and industry watchers can track future lease announcements to gauge continued demand.
Further reading
Explore more on the Data Centers trends shaping cloud and storage capacity across the country.
Source note: This article includes information reported by TokenPost.
